MARKETING ASPECT

Introduction

What Is Marketing?

Marketing refers to activities undertaken by a

company to promote the buying or selling of a product or
service.
Marketing includes
advertising,
selling, and
delivering products
to consumers or other businesses.

 To get the attention of key potential audiences

through advertising.
 Promotions are targeted to certain audiences and
may involve celebrity endorsements, catchy
phrases or slogans, memorable packaging or
graphic designs and overall media exposure.

Vision/Mission of the Company

Mission statement  describes what a company wants

to do now,
 Vision statement  outlines what a company wants to
be in the future.

The Mission Statement concentrates on the present;

 it defines the customer(s), critical processes and
 it informs you about the desired level of
performance.

The Vision Statement focuses on the future;

 it is a source of inspiration and motivation.
 it describes not just the future of the
organization but the future of the industry or
society in which the organization hopes to effect
change.

Company Logo/Trademark of the

Product/Product/Service Logo

A logo is a visual representation that appears on

company signs, paper and advertisements that customers
use to identify your company.

Company and Product Logo

 A corporate logo design is the one that represents
the whole of the company activities and business.
This is the main logo that creates a brand identity for
the corporate house.
 A leading logo that is the representation of their
corporate values, vision and gives a clear business
message to the customers .

A product logo is specially created for that

specific product.
 The designer focuses on the key features of a
product and its usefulness for customers. All those
features and company’s brand image should reflect
form a product logo design.
Marketing Strategies
Marketing, often confused with advertising, promotions
and public relations, is the function that guides the
development and sales of products and services.
Depending on your product or service, competition,
budget and customer type, your small business can use
one or more marketing strategy to grow your company.

Market Segmentation
Market segmentation is a marketing strategy that involves
dividing a broad target market into subsets of consumers
who have common needs and priorities, and then
designing and implementing strategies to target them.

Segmentation Variables
 Geography  Demographic  Psychographics

Market and Product/Service Positioning

Market Positioning refers to the ability to

influence consumer perception regarding a brand or
product relative to competitors. The objective of market
positioning is to establish the image or identity of
a brand or product so that consumers perceive it in a
certain way.
For example:
  A handbag maker may position itself as a luxury
status symbol
 A TV maker may position its TV as the most
innovative and cutting-edge
 A fast-food restaurant chain may position itself as the
provider of cheap meals
Types of Positioning Strategies
There are several types of positioning strategies. A few
examples are positioning by:
 Product attributes and benefits: Associating your
brand/product with certain characteristics or with
certain beneficial value
 Product price: Associating your brand/product with
competitive pricing
 Product quality: Associating your brand/product
with high quality
 Product use and application: Associating your
brand/product with a specific use
 Competitors: Making consumers think that your
brand/product is better than your competitors
Target Market

Direct/Indirect Competitors
 Direct competition: where someone has a very
similar product as an alternative to yours. Coke vs
Pepsi. Ford Explorer vs Toyota Highlander vs
Chevy Tahoe. Arguably competitive similar
products.
 Indirect competition: Here the buyer solves their
“problem” or grabs the opportunity with a different
category of product. Here fitness equipment sales
compete with gym memberships and diet programs.
Or the Ford Explorer might compete with a large
sedan or station wagon or a cross-over like the Ford
Edge.

Competitive Advantage of the Product

Competitive advantages are conditions that allow a
company or country to produce a good or service of equal
value at a lower price or in a more desirable fashion.
These conditions allow the productive entity to generate
more sales or superior margins compared to its market
rivals.

Channel of Distribution
A distribution channel in marketing refers to the path or
route through which goods and services travel to get from
the place of production or manufacture to the final users.
It has at its center transportation and logistical
considerations.

Demand and Supply Analysis

Potential Market
Potential market is the part of the total population that
has shown some level of interest in buying a particular
product or service. This includes individuals, firms and
organizations. Potential market is also called Total
addressable market (TAM).

Market Share
Market share represents the percentage of an industry,
or a market's total sales, that is earned by a particular
company over a specified time period. Market share is
calculated by taking the company's sales over the period
and dividing it by the total sales of the industry over the
same period. This metric is used to give a general idea of
the size of a company in relation to its market and its
competitors.

A company's market share is its portion of

total sales in relation to the market or industry in which it
operates. To calculate a company's market share, first
determine a period you want to examine. It can be a fiscal
quarter, year or multiple years.
Next, calculate the company's total sales over that
period. Then, find out the total sales of the company's
industry. Finally, divide the company's total revenues by
its industry's total sales. For example, if a company sold
$100 million in tractors last year domestically, and the
total amount of tractors sold in the U.S. was $200 million,
the company's U.S. market share for tractors would be
50%.

Industry Analysis (Business Strategy – Michael Porter’s

Five Forces Analysis)